India’s GDP data for Q2 are due to be released at the end of August. We, and many others, remain sceptical about the accuracy of the national accounts data, making it important to track alternative measures of activity. Focussing on the services sector, lower profile indicators suggest that activity growth in high-end services has been relatively lacklustre in recent months, but areas such as trade, tourism and transport have been resilient since demonetisation.
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